Accrual checks

[Johnnie1637]

getting conflicting information regarding the accruel checks we are supposed to receive on retiring It's my understanding it's one days pay for each year of service The hr dope in our building is telling members she has never heard of it and tries to blow them off What rights do we have on this attempt by UPS to keep this money

 

[Big Arrow Down...D]

getting conflicting information regarding the accruel checks we are supposed to receive on retiring It's my understanding it's one days pay for each year of service The hr dope in our building is telling members she has never heard of it and tries to blow them off What rights do we have on this attempt by UPS to keep this money

Do you mean annuity?

 

[Johnnie1637]

I guess it's the same thing a day's pay for each year of service

 

[Johnnie1637]

I know for a fact that whatever you want to call it if you don't stay on them they will do whatever they can to try to convince you they know nothing about it

 

[upschuck]

Not really sure what you are talking about. Never heard of this. Where is this mentioned in the contract?

There is a way of figuring your pension that is the accrual method, but that isn't a one time payment.

What supplement are you under?

 

[Catatonic]

Do you mean annuity?

Different -
One accrues the funds to support the annuity in the form of pension payments.

 

[Catatonic]

getting conflicting information regarding the accruel checks we are supposed to receive on retiring It's my understanding it's one days pay for each year of service The hr dope in our building is telling members she has never heard of it and tries to blow them off What rights do we have on this attempt by UPS to keep this money

In most pension funds, the accrual is a slow process that rises quickly within the last 5 years before eligibility.
One accrues the funds to support the annuity in the form of pension payments.
This for legal reasons; to keep retirees with few years of service being able to claim funds if they leave early.

 

[Johnnie1637]

This is a one time check from UPS right and why are they so hesitant to inform people who are about to retire about this benefit Does the money go to the hr people who suck at their jobs fund

 

[Johnnie1637]

A good friend of mine just retired he hounded the hr idiot in our building He had to call a retired center manager who owed him a favor to pressure her to do something She returned my buddy's phone call 1/2 hour later and suddenly she would take care of it right away

 

[upschuck]

Where is it in the contract? If it is not in there, you won't be getting anything.

 

[oldngray]

Where is it in the contract? If it is not in there, you won't be getting anything.

Unless his local has an unusual agreement it doesn't exist.

 

[Catatonic]

This is a one time check from UPS right and why are they so hesitant to inform people who are about to retire about this benefit Does the money go to the hr people who suck at their jobs fund

In your case it would be the same regardless.

 

[Catatonic]

This is a one time check from UPS right and why are they so hesitant to inform people who are about to retire about this benefit Does the money go to the hr people who suck at their jobs fund

Is this a local thing?
I never heard of anything like this.

 

[Johnnie1637]

I am in the Northeast district I know it exists because when his check finally came in I gave it to him and it opened right there He was disappointed because it was a lump sum and taxes were about 1/3 Still $4k was a nice little gift albeit forced

 

[Johnnie1637]

Ok not really what I was looking for Lets change gears is everyone aware that years of service awards have been reinstated Still no safe driving awards obviously cutting into stock holders dividend checks so sad

 

[Gimme Danger]

This is in New England supplement for sure. For 25 or more years of service, you get 3 days pay for every month you work past your anniversary date. It's in the vacation article.